The CEO of the country’s largest private sector bank applauds government plans to overhaul exchange control legislation, but is not happy with a proposed financial transactions tax.

Jegan Durairatnam is CEO of Commercial Bank of Ceylon, Sri Lanka’s largest private sector bank and the country's longstanding recipient of FinanceAsia's Best Bank award in our annual Country Awards for Achievement.

Durairatnam has spent nearly his entire career at Commercial Bank. In a wide-ranging interview, he discusses the country's high hopes for economic development as it emerges from a balance of payments crisis resulting from the high debt levels incurred by...